WASHINGTON -- It hadn't even hit the bookstores before this month's Color of Money Book Club selection, "Busted," set off a flurry of Internet conversations.

Sanctimonious critics have slammed this book in the blogosphere, where people can anonymously sling potshots they would never have the guts to say to someone's face.

"Busted" (W.W. Norton & Company, $25.95) by Edmund L. Andrews is the story of how a well-educated, highly paid economics reporter for The New York Times, whose beat includes covering the Federal Reserve, ended up with almost a half-million-dollar mortgage he and his wife, Patty, couldn't afford.

Unfortunately, a rather regrettable omission mars this intriguing personal account. Andrews failed to mention that his wife had filed for bankruptcy -- twice. She filed once to get out from under debt accumulated because of her failed first marriage and a second time to again shed debt amassed while raising four children as a single mother with little, if any, child support.

"Had I to do it again, I would have included that material," Andrews said to me in a telephone interview. "I could have written a whole chapter about Patty's problems with her ex-husband and her problems with getting child support."

Andrews says he was trying to spare his wife further embarrassment. After all, he was already laying out all their financial foibles for the world to see and to second-guess and criticize.

Based on the comment sections of many blogs, Andrews was right about the criticism. The things people have written about him and his wife are just awful.

The book doesn't come off as a woe-is-me tale. Upfront, Andrews says he's wasn't duped. He admits to all the unbelievably bad decisions he and his wife made, starting with purchasing a home when she didn't have a job and he was handing over more than half of his monthly paycheck in child support and alimony.

"I am not a victim, because I knew full well I was taking a huge gamble," Andrews writes. "My hunch is that a large share of people who are now in trouble knew in their gut they were taking unreasonable risks too. Adults who buy homes have to take responsibility for their decisions."

They most definitely made some really, really terrible choices.

Some might want Andrews and his wife to take a cane to their own behinds for their behavior. Me, I was satisfied with his mea culpa. Andrews and his wife are suffering. And to date they haven't received a penny of taxpayer money to bail them out, just like many others around the country with burdensome mortgages. Continued...